On Monday, February 27th, David Spector sold 15,000 shares of PennyMac Financial Services stock. Schonfeld Strategic Advisors LLC now owns 60,866 shares of the real estate investment trusts stock worth $3,449,000 after purchasing an additional 54,266 shares during the last quarter. As our production mix continues to shift towards direct lending, production expenses as a percentage of fallout adjusted locks are expected to trend higher. If so, please call us at 866.545.9070. Thank you. Trade/service marks are the property of PennyMac Loan Services, LLC and/or its subsidiaries or affiliates. The decrease from the prior quarter was primarily driven by a $76 million decrease in EBO loan-related revenue. On Monday, February 27th, David Spector sold 15,000 shares of PennyMac Financial Services stock. It is worth noting that purchase originations are expected to grow and are forecasted to be $1.7 trillion and $1.9 trillion in 2021 and 2022, respectively. 47.206 (3) & (4). These businesses provide PFSI a stable foundation through their low cost structures while our scaled fulfillment operation enables more aggressive growth in our higher margin direct lending channels. You can see the results of our hedging strategy in the full year view on slide 19. No cash balance or cash flow is included in the calculation. David Spector Email Address Found 7 email address listings: @pennymacfinancial.com @countrywide.com @pennymacusa.com @pnmac.com @yahoo.com +2 more David Spector Phone Number Found 6 phone numbers: 818-292-XXXX 818-324-XXXX 818-224-XXXX 818-332-XXXX 212-761-XXXX +1 more View David's Email & Phone (It's Free) 5 free lookups per month. PennyMac Financial Services, Inc. (NYSE: PFSI) announced today that Doug Jones, President and Chief Mortgage Banking Officer, joined its Board of Directors effective March 1, 2023. This information is provided for illustrative purposes only. This hedging strategy is designed to moderate the impact of interest rate changes on the fair value of our MSR asset and also considers productionrelated income. This expertise and experience has served us well, enhancing our ability to help many borrowers affected by the COVID-19 pandemic. Chief Enterprise Ops Officer Jeffrey Grogin sold 13,521 shares of PFSI stock on 01/04/2021 at the average price of $62.53. The price of the stock has decreased by 14.5% since. PennyMac Financial Services Inc provides mortgage loans to customers in the United States. Finally, Barclays lifted their price objective on PennyMac Financial Services from $58.00 to $69.00 and gave the company an equal weight rating in a report on Friday, February 3rd. Dan Perotti , PFSIs Senior Managing Director and Chief Financial Officer will discuss the financials in more detail later on in this discussion. All loan programs subject to borrowers meeting appropriate underwriting conditions. This chart shows David Spector's buying and selling at PennyMac Financial Services by year and by quarter. Thank you. We issued $650 million in an inaugural senior unsecured note offering, raised funding capacity with our banking partners, and enhanced our existing Ginnie Mae MSR financing structure to include servicing advances. All of these activities allowed us to not only fund record volumes of loans, but also effectively deploy capital into technology and operational projects, as well as repurchase a significant amount of our common stock. The firm engages in the production and servicing of U.S. residential mortgage loans. Posted by Defense World Staff on Mar 3rd, 2023. Total correspondent loan acquisition volume was $46.7 billion, down 9% from the prior quarter and up 56% from the second quarter of 2020. Specifically, backtested results do not reflect actual trading or the effect of material economic and market factors on the decision-making process. The scale we have achieved in our correspondent business, combined with our low-cost structure and operational excellence in the channel, allow us to operate profitably through volatile market environments. Production segment pretax income was $244.4 million, down 33% from the prior quarter and 55% from the second quarter of 2020. These businesses are foundational to PFSI and not easily replicated. Many of these employees were on-boarded virtually and have begun their PennyMac careers working from home. PennyMac remained the largest correspondent aggregator in the U.S. in the fourth quarter. In January, our broker direct originations totaled $1.4 billion in UPB, and locks totaled $2.1 billion. And as our production mix continues to shift toward direct lending, production expenses as a percentage of fallout-adjusted locks are expected to trend higher. However, he will become a special advisor to David Spector, chairman and chief . 10 Ratings. At PennyMac, our commitment to our customers doesnt end at closing. No credit card required. Director, 10% Owner Stanford L Kurland sold 31,000 shares of PFSI stock on 01/07/2021 at the average price of $60.12. Book value per share grew 5% to $54.49 at June 30. Pricing margins in the channel decreased sharply, reflecting intense levels of competition between channel leaders. Texas office: 2201 W. Plano Parkway, Suites 150 and 300, Plano, TX 75075. The price of the stock has decreased by 8.12% since. PFSIs owned servicing portfolio, which consists primarily of Ginnie Mae MSRs, had a 60 day plus delinquency rate of 10.2%, down from 11.4% at the end of the prior quarter, while our subserviced portfolio, primarily consisting of conventional loans, reported a 60 plus day delinquency rate of 2.7%, down from 3.7% at September 30 as borrowers continue to emerge from forbearance plans. Some products may not be available in all states. Other restrictions apply. You will be contacted by a representative that will help answer any inquiries you have. While Stan had retired from day-to-day responsibilities at PennyMac, he remained a trusted advisor and dear friend. Thank you. Thank you. Our balanced business with our large and growing servicing portfolio also becomes an increasingly important component of our earnings as interest rates increase, and we believe this provides a competitive advantage relative to others when the industry's origination volumes return to more normalized levels. As you can see on page 11 of our slide presentation, correspondent acquisition volumes totaled $56.9 billion in UPB in the fourth quarter, up 28% from the prior quarter and 53% from the fourth quarter of 2019. Each of our business segments performed well during the fourth quarter as the continued low interest rate environment drove record production volumes across all of our channels. David Spector. The committed pipeline at January 31 was $3 billion. They sold a total of 398,609 shares worth more than $22,789,635.48. David works at Pennymac Loan Services, Llc as Chief Investment Officer. I'll now turn it over to Dan, who will speak to the financial results for the quarter. And with that, I would like to turn it back to David for some closing remarks. Net assets under management totaled $2.3 billion as of June 30, down slightly from March 31 and up 5% from June 30, 2020. PennyMac CEO David Spector to serve as chairmen of its mortgage REIT, financial services The CEO of both PennyMac companies, David Spector (pictured), has added the chairman's title, filling the vacancies created by the death of founder Stanford Kurland. PennyMac Financial delivered another outstanding quarter of operational and financial performance, despite the increased volatility in the mortgage market. This net worth estimate does not reflect any other assets that Mr. Spector may own. The firm has a 50 day moving average of $62.72 and a 200-day moving average of $56.17. Learn More on David A. Spector's trading history. T. Rowe Price Investment Management Inc. now owns 4,992,531 shares of the real estate investment trusts stock worth $282,877,000 after purchasing an additional 256,717 shares during the last quarter. Mr. Spector earned a salary of $1,000,000.00, stock awards of $2,537,435.00, options awards of $1,101,254.00, non-equity compensation of $8,864,938.00, and other compensation of $71,597.00. PennyMac Financial Services, Inc. (NYSE:NYSE:PFSI) Q2 2021 Earnings Conference Call August 5, 2021 5:05 PM ETCompany ParticipantsIsaac Garden - Vice President, Investor RelationsDavid. Wells Fargo & Company raised PennyMac Financial Services from an equal weight rating to an overweight rating and lifted their price objective for the company from $54.00 to $75.00 in a report on Tuesday, December 6th. As we look at 2021 we believe the market environment provides PFSI a good opportunity for continued elevated financial performance. Stanford Kurland. Copyright 2023 Surperformance. Stockholders of record on Tuesday, February 14th were given a dividend of $0.20 per share. Im proud of the actions we have taken and the dedicated management team across the company that has helped put these plans into action. As you can see on slide 11, approximately $37 billion of portfolio runoff in the second quarter was more than offset by the addition of $61 billion in total production. In the fourth quarter, PennyMac Financial delivered net income of 38 We achieved record production across all channels, with increased market penetration in our higher margin direct lending channels. While our servicing group was aiding borrowers, our corporate groups were ensuring our capital and liquidity were protected. Backtested performance is developed with the benefit of hindsight and has inherent limitations. Actual performance may differ significantly from backtested performance. On Monday, December 12th, David Spector sold 12,750 shares of PennyMac Financial Services stock. Lastly, originations in our broker direct channel totaled $4 billion in UPB, down 22% from the prior quarter. Please note all regulatory considerations regarding the presentation of fees must be taken into account. Learn More on PennyMac Financial Services' active insiders. View David Spector's email address (d*****@pennym***.com) and phone number. In his role as President of PennyMac Financial, Mr. Jones is responsible for all business activities relating to the company's loan production and servicing operations. Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter. This outstanding income generated excess capital that we redeployed into increased levels of production, share repurchases, reduction of debt, and increased servicing activity. Thanks, Andy. Despite these currently elevated levels of competition, we continue to see opportunity in the channel over the long term and remain committed to providing our broker partners and the customers they serve a superior mortgage experience. The expertise of our deep management team, combined with the technology investments we have made, support PennyMac's growth strategy in a changing mortgage market. These record volumes resulted in the growth of our servicing portfolio to $427 billion in UPB, despite extraordinary levels of prepayment activity. Jones brings more than 25 years of financial services industry experience to PennyMac Financial Services. Similarly, new customer acquisition or non-portfolio interest rate lock commitments were $1.5 billion, essentially unchanged from the prior quarter and up from $274 million in the second quarter of 2020.